The North Carolina Department of Commerce is seeking input from local governments, economic development professionals, and the public on potential new Opportunity Zones across the state. These zones are designed to attract investment and promote economic growth in low-income areas. Governor Josh Stein has tasked the department with gathering recommendations on which qualifying census tracts show the most promise for development. The initiative follows the renewal of a federal program supporting such investments.
The Opportunity Zone program, initially established in 2017, allows states to designate up to 25% of their low-income census tracts as Opportunity Zones. These zones provide tax breaks for investors who reinvest unrealized capital gains. The program, extended under Public Law 119-21, now includes new tract and zone designations every 10 years. North Carolina will nominate 202 tracts from a pool of 807 eligible low-income tracts for this round.
Local leaders and stakeholders are encouraged to follow state guidelines when assessing census tracts. Key considerations include business development and job creation, strategic local revitalization, and pathways to increased housing supply. The guidelines emphasize potential for high-growth industries, local revitalization plans, and expanding housing near major employment centers.
The Department of Commerce has launched a web page providing comprehensive information on the program and the public comment period. Interested parties can view the map of eligible tracts and submit feedback through a downloadable form. The comment period is open until June 7, 2026. New zones will be certified by the U.S. Treasury by the end of the year and will take effect on January 1, 2027.
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